Complementa Investment-Controlling AG, a St. Gallen, Switzerland-based investment performance measurement and analytics firm, has been acquired by State Street Corporation (NYSE: STT) for an undisclosed sum.
The acquisition also includes wholly-owned subsidiary Allocare AG, a Swiss asset management software provider while Complementa’s HedgeAnalytics business is excluded from the transaction.
Benjamin Brandenberger, founder and Chairman of Complementa, and Michael Brandenberger, CEO and President of Complementa will serve as board members and be actively involved in the business.
Andreas Joost, already a member of the managing board, will take over the CEO position and manage Complementa’s business.
The company, which will be a wholly-owned subsidiary of State Street and will retain its name and identity, provides investment analytics to asset managers, banks, pension funds, family offices, insurance companies, foundations and trustees primarily based in Switzerland and Germany.
According to Joe Antonellis, vice chairman of State Street, Complementa provides State Street with further opportunity to expand the offering across Germany, the Netherlands, Italy and other European and global markets.”